BCA Sells Piraeus Stake For €494 Million

Banco Comercial Portugues SA (ELI:BCP) is cashing in on the sudden interest in Greek stocks, selling all of its shares in Piraeus Bank S.A. (OTCMKTS:BPIRY), according to a press release earlier today. This comes just six months after CorpBanca (ADR) (NYSE:BCA) acquired shares worth €400 million when it sold its Greek unit, Millennium BCP, to Piraeus. BCP said from the beginning that it would sell the shares as soon as it could find a reasonable offer, reports Patricia Kowsmann for the The Wall Street Journal, but it must be pleased about pulling in €494 million.

BCA's stakes in Piraeus

CorpBanca (ADR) (NYSE:BCA) owned 4.5% of Piraeus Bank...